Analysis Of Alberta/B.C. Pension Panel Recommendations

The final report of the Alberta/British Columbia Joint Expert Panel on Pension Standards, titled Getting our Acts Together – Pension Reform in Alberta and British Columbia, was released to the public on November 28, 2008. The Report recommends a "fundamental reform of pension legislation" to achieve a balance between encouraging the establishment and maintenance of pension plans, and providing confidence in benefit security. If ultimately adopted by the governments and turned into legislation, many of the recommendations would have significant legal (and other) implications for pension plan sponsors and members. This Update highlights a number of the more significant recommendations and comments on several of these recommendations from a legal perspective.